GW&K Investment Management LLC acquired a new stake in shares of Envestnet Inc (NYSE:ENV) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 282,911 shares of the business services provider’s stock, valued at approximately $19,343,000. GW&K Investment Management LLC owned 0.58% of Envestnet as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently added to or reduced their stakes in the company. TRUE Private Wealth Advisors purchased a new stake in shares of Envestnet during the second quarter valued at approximately $27,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Envestnet during the second quarter valued at approximately $34,000. Hudock Capital Group LLC purchased a new stake in shares of Envestnet during the second quarter valued at approximately $46,000. Marshall Wace LLP purchased a new stake in shares of Envestnet during the first quarter valued at approximately $50,000. Finally, Pittenger & Anderson Inc. boosted its stake in shares of Envestnet by 37.5% during the first quarter. Pittenger & Anderson Inc. now owns 1,375 shares of the business services provider’s stock valued at $90,000 after purchasing an additional 375 shares during the period. 88.09% of the stock is owned by hedge funds and other institutional investors.
Shares of Envestnet stock traded down $0.95 during midday trading on Friday, reaching $56.75. 456,598 shares of the company’s stock traded hands, compared to its average volume of 452,106. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market cap of $3.01 billion, a PE ratio of 45.40, a price-to-earnings-growth ratio of 2.56 and a beta of 1.67. The stock has a 50 day moving average of $66.52 and a 200-day moving average of $65.94. Envestnet Inc has a 12 month low of $46.57 and a 12 month high of $73.94.
Envestnet (NYSE:ENV) last announced its earnings results on Wednesday, August 7th. The business services provider reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). The business had revenue of $227.90 million for the quarter, compared to the consensus estimate of $225.34 million. Envestnet had a negative net margin of 1.72% and a positive return on equity of 9.15%. Envestnet’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.41 EPS. On average, equities analysts anticipate that Envestnet Inc will post 1.29 earnings per share for the current fiscal year.
ENV has been the subject of a number of analyst reports. Raymond James increased their price objective on Envestnet from $82.00 to $83.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 11th. TheStreet lowered Envestnet from a “b” rating to a “c+” rating in a research note on Thursday, May 9th. JPMorgan Chase & Co. lowered Envestnet from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $71.00 to $73.00 in a research note on Thursday, May 9th. Zacks Investment Research lowered Envestnet from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Finally, Buckingham Research lowered Envestnet from a “buy” rating to a “neutral” rating and set a $73.00 price objective for the company. in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $73.30.
In other Envestnet news, COO Joshua Mayer sold 6,881 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $56.15, for a total value of $386,368.15. Following the completion of the transaction, the chief operating officer now owns 20,190 shares in the company, valued at $1,133,668.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider William Crager sold 18,500 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $58.13, for a total value of $1,075,405.00. Following the completion of the transaction, the insider now owns 243,512 shares of the company’s stock, valued at approximately $14,155,352.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 140,445 shares of company stock valued at $9,517,917. 4.97% of the stock is owned by corporate insiders.
Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.
Read More: Momentum Investing
Receive News & Ratings for Envestnet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Envestnet and related companies with MarketBeat.com's FREE daily email newsletter.